Married couple's allowance (MCA) (relief given at 10%)
Either partner born before 6 April 1935

£8,950

£8,695

- minimum amount

£3,450

£3,360

- income limit

£29,600

£28,900

Blind person's allowance

£2,450

£2,390

Scottish income tax rates and bands

Rates and bands for 2019/20 will be announced in the Scottish Budget.

2018/19

Band £

Rate %

0 - 2,000

19

2,001 - 12,150

20

12,151 - 31,580

21

31,581 - 150,000

41

Over 150,000

46

Welsh income tax rates

From 6 April 2019, the UK government will reduce the basic, higher and additional rates of income tax paid by Welsh taxpayers by 10%, and three Welsh rates of income tax will then be added to the reduced UK rates. The Welsh government proposes to set the first Welsh rates at 10%.

Individual Savings Accounts (ISAs)

Individuals can invest in any combination of cash or stocks and shares up to the overall annual ISA subscription limit. However, a saver may only pay into a maximum of one Cash ISA, one Stocks and Shares ISA, one Innovative Finance ISA and one Lifetime ISA. The overall investment limit for 2019/20 is £20,000 (£4,368 for junior accounts).

Contact Us

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Registered to carry out audit work by the Institute of Chartered Accountants in England and Wales. Authorised and regulated by the FCA.

Our FCA Register number is 542783 which can be checked at www.fca.org.uk/register. The Financial Conduct Authority does not regulate taxation and trust advice, personal finance and some aspects of commercial property investment.

Volans, Leach & Schofield is a trading style of Volans Limited - Company number 07549089.